Quang Ngai: Approved investment policy for 10,000 billion VND railway rail production project

Mr. Nguyen Hai Truong, Deputy Head of the Management Board of Dung Quoc Economic Zone and Quang Ngai Industrial Parks, said that the Management Board has decided to approve the investment policy and at the same time approve the investor for the Hoa Phat Dung Quat Railway Rail and Special Steel Production Project.

Accordingly, the Hoa Phat Dung Quat Railway Rail and Special Steel Production Project was approved by the Management Board for the investor to be Hoa Phat Dung Quat Rail and Special Steel Joint Stock Company.

The leaders of the Management Board of Dung Quoc Economic Zone and Quang Ngai Industrial Parks said that the implementation of the project is necessary due to the urgent needs of the market along with the Government 's orientation of promoting domestic industry and supporting services to deeply participate in the process of building and operating key national projects.

Based on the achievements and experience gained in the field of iron and steel production, in the period of 2025 - 2030, Hoa Phat aims to focus on deep processing, producing high-quality steel products, ensuring quantity and quality to serve domestic and export needs, especially serving key national projects, in which priority is given to the production of high-speed rail steel products to meet the Government's expectations.

In the current stage of economic integration and development, the railway system plays a very important role in the transit of domestic goods and trade with other countries in the region. To meet the expectations and goals assigned by the Government, it is urgent to promptly deploy investment projects to produce railway steel and special steel.

The project covers an area of 14.79 hectares, with a designed capacity of 700,000 tons/year. The project has a duration of 50 years, with an investment capital of 10,000 billion VND, of which the investor's capital is 3,800 billion VND, the rest is mobilized. The project is located in the Eastern Industrial Park, Dung Quat Economic Zone, Van Tuong Commune, Quang Ngai Province.

The Management Board's leaders also emphasized that the project, once put into operation, will promptly meet the demand for railway steel for key national projects in the coming period such as: North-South high-speed railway project, Hanoi-Lao Cai-Hai Phong urban railway system and many other important projects.

At the same time, it contributes to meeting the needs of developing transport infrastructure, meeting the increasing demand for freight and passenger transport in the context of rapid economic development, helping to reduce import costs and creating a strong domestic steel industry to meet future needs.

The project is invested in with the aim of synchronously developing Hoa Phat's steel production projects in particular and the whole country in general, taking the initiative in raw material sources, limiting dependence on imports, reducing costs and transportation costs, gradually affirming the roadmap for developing green steel, reducing emissions to the environment, contributing to improving the technology level of producing rail steel, shaped steel and special steel; is an endogenous driving force to help Vietnam become a high-quality steel production center in Southeast Asia.

Source: https://baodautu.vn/quang-ngai-chap-thuan-chu-truong-dau-tu-du-an-san-xuat-ray-duong-sat-10000-ty-dong-d343447.html